Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 4,886 people, 1,808 houses or apartments, and a median cost of homes of $171,842, house prices in Nashville are solidly below the national average.
Single-family detached homes are the single most common housing type in Nashville, accounting for 70.73% of the city's housing units. Other types of housing that are prevalent in Nashville include mobile homes or trailers ( 13.03%), large apartment complexes or high rise apartments ( 8.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.51%).
The most prevalent building size and type in Nashville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.95% owning and 49.05% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Nashville's housing was primarily built during this period, from the '40s through the '60s. A full 43.60% of the city's housing hails from this era. Other housing ages represented in Nashville include homes built between 1970-1999 ( 40.99%) and housing constructed between 2000 and later ( 11.77%). There's also some housing in Nashville built before 1939 ( 3.65%).
Vacant housing appears to be an issue in Nashville. Fully 21.49% of the housing stock is classified as vacant. Left unchecked, vacant Nashville homes and apartments can be a drag on the real estate market, holding Nashville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Nashville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.22% during the period.
Appreciation rates are so strong in Nashville that despite a nationwide downturn in the housing market, Nashville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nashville appreciation rates continue to be some of the highest in America, at 11.39%, which is higher than appreciation rates in 92.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nashville. Nashville appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.
Relative to Georgia, our data show that Nashville's latest annual appreciation rate is higher than 90% of the other cities and towns in Georgia.
$171,842
for Georgia
for nation
1,808
$1,252 / per month